Knows Hugo Boss, the German label, has been placed under the care of the new CEO Mark Langer. As previously announced, the revival of the brand will come through a radical repositioning, the change of the targeted consumer and, necessarily, the change in price. Langer confirmed the move in Moda24, the supplement of Italian Business newspaper, Sole24Ore dedicated to the fashion system, “We are going to focus on two brands, Boss and Hugo” explained Langer. With ‘Boss’ we aim to be perceived as a high premium brand while with ‘Hugo’ we aim to be an excellent value for money for the young city workers, as ‘Hugo’ has prices 30% lower than the ‘Boss’ line. Americans call this line ‘progressive’. As for the accessories, there is no plan to increase the accessories production despite having the “shoes and bags segment doing very well”. “Accessories will continue to grow but not at the expense of Clothing that is now worth 90% of turnover and will always be our core business.” continued Langer. Preliminary data from Hugo Boss budget, presented on January 16, showed a decline of 4%, for a turnover of 2.693 billion Euros. March, 9 is the date for the presentation of final figures.
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